Salary going to the toilet

[Doc Foot]

http://benbrownmd.wordpress.com/



How did this happen?
How do doctors get stepped on like this?

Are most doctors the same people that were used to getting their lunch money taken away in elementary school so now they lay down and accept not getting paid?

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[gumbyj]

 

[pre med 2014]

this article has been discussed before in another thread

 

[235788]

Go surgery, do military scholarship, or get a full ride or other scholarship

 

[centrigeugle]

Worrying at first until you notice that the graph assumes you'll end undergrad with 100k in debt.

lol?

 

[Drrrrrr. Celty]

You're not going to get rich being a doctor, but you'll bring home at least 100k clean and if you're married you'll have more than enough to have a good house in a good district and go on vacation 2-3 times a year and put at least 10-20k into savings.

 

[235788]

You're not going to get rich being a doctor, but you'll bring home at least 100k clean and if you're married you'll have more than enough to have a good house in a good district and go on vacation 2-3 times a year and put at least 10-20k into savings.

Some specialist and the business savvy will still get rich. Hire a bunch of NPs/PAs to get your volume very high. A geriatric physician in my town did that, and he easily makes over 1 million a year (one of my dads friends). But people hate him because when they "go to see him" they are really just seeing one of his associates.

Depends on what you want to get out of medicine. You can justify it under the false banner of "increasing health care accessibility."

 

[sportsperson]

Too much general assumptions made in that. Many people finish with 0 undergrad debt or very small amounts. Many people also get help from parents and dont have as much in loans.
Many physicians also make a lot more than the average income using above average business skills. The ones who really know how to kill it will make over a million (and more).

If you have to rely on 100% loans and nothing else and have no business skills/investing skills at all and are planning on being very average... then yes that article will apply to you very well. But even then, you see teachers who drive corollas while you see physicians owning 1.x million dollar homes....

 

[235788]

Then again, serenade I do agree with you somewhat. I think many physicians will not just passively become rich like they did in the 70-90s.

But I think we'll catch a break somewhere, whether it be loan forgiveness or something. But the US is currently crapping on all careers the media makes out to be successful, so im not going to completely count on it.

Worst case scenario, I read doctors in Australian make on-par of what current US doctors make.

The day of seeing a physician for little things may be over 20 Years from now. But this is just a prediction made by a lowly premed who is very interconnected with the medical world.

 

[FSUseminoleEM1]

Some specialist and the business savvy will still get rich. Hire a bunch of NPs/PAs to get your volume very high. A geriatric physician in my town did that, and he easily makes over 1 million a year (one of my dads friends). But people hate him because when they "go to see him" they are really just seeing one of his associates.

Depends on what you want to get out of medicine. You can justify it under the false banner of "increasing health care accessibility."

Too much general assumptions made in that. Many people finish with 0 undergrad debt or very small amounts. Many people also get help from parents and dont have as much in loans.
Many physicians also make a lot more than the average income using above average business skills. The ones who really know how to kill it will make over a million (and more).

If you have to rely on 100% loans and nothing else and have no business skills/investing skills at all and are planning on being very average... then yes that article will apply to you very well. But even then, you see teachers who drive corollas while you see physicians owning 1.x million dollar homes....

Maybe if they're active investors, too. This is absolutely not the norm.

 

[235788]

Maybe if they're active investors, too. This is absolutely not the norm.

Not at all, but there is opportunity in all fields is the point I was trying to make. A business savvy mind can turn dirt into diamonds.

 

[sportsperson]

Maybe if they're active investors, too. This is absolutely not the norm.

Correct but many physicians can still make 300-400k/year with salary and average business skills. As long as mom/dad helped a bit and you maybe chipped in too, your loans will more than likely be manageable fairly easily.

 

[sliceofbread136]

My parents paid my way through undergrad and are going to fund me through medical school.
No debt feels good man

In before "you won't know how to manage money"!

 

[poohbear12345]

This is a great article that breaks it down fairly well. I feel like Medical students are in a state of denial unwilling to accept this as reality.

From a purely political standpoint it makes more sense to agree with this article and its reasoning. It will help protect your reimbursements in the future and thus your rational self interest. Saying "well plenty of doctors still make 300k-400k" is like saying yea go ahead keep cutting reimbursements we'll be fine.

This is exactly how lawyers were talking as over enrollment slowly crushed young J.D.'s. First it was well everyone has a good salary, then it was well some make a good salary, now its if you get into a top 10 and go to corporate law you can get a good salary.

Just noticing a trend. its better to be aware of what reality is and to try to lobby politically to ensure your place in society, rather than live in denial.

 

[sportsperson]

This is a great article that breaks it down fairly well. I feel like Medical students are in a state of denial unwilling to accept this as reality.

From a purely political standpoint it makes more sense to agree with this article and its reasoning. It will help protect your reimbursements in the future and thus your rational self interest. Saying "well plenty of doctors still make 300k-400k" is like saying yea go ahead keep cutting reimbursements we'll be fine.

This is exactly how lawyers were talking as over enrollment slowly crushed young J.D.'s. First it was well everyone has a good salary, then it was well some make a good salary, now its if you get into a top 10 and go to corporate law you can get a good salary.

Just noticing a trend. its better to be aware of what reality is and to try to lobby politically to ensure your place in society, rather than live in denial.

This is a bit of a different issue.

 

[DrBowtie]

The assumptions kill the article for me. Very generous hours worked for undergrad/medical school.

He uses California RN (many of which are unionized), and they aren't going to be consistently getting 40 hours of OT each and every week.

 

[gravitywave]

This is a great article that breaks it down fairly well. I feel like Medical students are in a state of denial unwilling to accept this as reality.

From a purely political standpoint it makes more sense to agree with this article and its reasoning. It will help protect your reimbursements in the future and thus your rational self interest. Saying "well plenty of doctors still make 300k-400k" is like saying yea go ahead keep cutting reimbursements we'll be fine.

This is exactly how lawyers were talking as over enrollment slowly crushed young J.D.'s. First it was well everyone has a good salary, then it was well some make a good salary, now its if you get into a top 10 and go to corporate law you can get a good salary.

Just noticing a trend. its better to be aware of what reality is and to try to lobby politically to ensure your place in society, rather than live in denial.

it's a terrible, misleading article that does more harm than good to the causes you're talking about with its ridiculous assumptions and leaps of logic.

 

[Etorphine]

The assumptions kill the article for me. Very generous hours worked for undergrad/medical school.

He uses California RN (many of which are unionized), and they aren't going to be consistently getting 40 hours of OT each and every week.

What is the significance of running under a union, in this context?

 

[circulus vitios]

What is the significance of running under a union, in this context?

Unions can regulate overtime. Usually overtime will go to the most senior members, so maybe it's misleading to assume a fresh RN will get tons of overtime.